From a technical perspective, TechnipFMC plc (FTI Quick QuoteFTI - Free Report) is looking like an interesting pick, as it just reached a key level of support. FTI's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and the 200-day, since bigger time periods tend to form stronger breakouts.

A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.

This kind of chart pattern is the opposite of a death cross, which is a technical event that suggests future bearish price movement.

Shares of FTI have been moving higher over the past four weeks, up 55.9%. Plus, the company is currently a #2 (Buy) on the Zacks Rank, suggesting that FTI could be poised for a breakout.

Once investors consider FTI's positive earnings outlook for the current quarter, the bullish case only solidifies. No earnings estimate has gone lower in the past two months compared to 5 revisions higher, and the Zacks Consensus Estimate has increased as well.

Investors should think about putting FTI on their watchlist given the ultra-important technical indicator and positive move in earnings estimates.